SPDR Bloomberg Correlations

EMHC Etf

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The current 90-days correlation between SPDR Bloomberg Barclays and SPDR Bloomberg Emerging is 0.48 (i.e., Very weak diversification). The correlation of SPDR Bloomberg is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

SPDR Bloomberg Correlation With Market

Weak diversification

The correlation between SPDR Bloomberg Barclays and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Bloomberg Barclays and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in SPDR Bloomberg Barclays. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with SPDR Etf

0.99	EMB	iShares JP Morgan	Pair Corr
0.94	PCY	Invesco Emerging Markets	Pair Corr
0.95	EMHY	iShares JP Morgan	Pair Corr
0.88	CEMB	iShares JP Morgan	Pair Corr
0.98	XEMD	Bondbloxx ETF Trust	Pair Corr
0.69	CBON	VanEck China Bond	Pair Corr
0.97	EMBD	Global X Emerging	Pair Corr
0.76	VTI	Vanguard Total Stock	Pair Corr
0.8	SPY	SPDR SP 500	Pair Corr
0.81	IVV	iShares Core SP	Pair Corr
0.82	BND	Vanguard Total Bond	Pair Corr
0.66	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.76	VUG	Vanguard Growth Index	Pair Corr
0.78	VEA	Vanguard FTSE Developed	Pair Corr
0.77	VWO	Vanguard FTSE Emerging	Pair Corr
0.74	TCAI	Tortoise Capital Series	Pair Corr
0.83	CAT	Caterpillar	Pair Corr
0.79	GE	GE Aerospace	Pair Corr
0.81	AXP	American Express	Pair Corr
0.7	CSCO	Cisco Systems	Pair Corr
0.76	AA	Alcoa Corp	Pair Corr
0.66	KO	Coca Cola Aggressive Push	Pair Corr

Moving against SPDR Etf

0.77	VZ	Verizon Communications	Pair Corr
0.76	T	ATT Inc	Pair Corr
0.72	BA	Boeing	Pair Corr
0.67	PG	Procter Gamble	Pair Corr
0.6	DIS	Walt Disney	Pair Corr
0.52	HPQ	HP Inc Earnings Call Tomorrow	Pair Corr
0.44	CVX	Chevron Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.44	0.58	-0.72	0.62	-0.73	0.37	-0.06	-0.7	-0.58	META
MSFT	0.44		0.7	0.01	-0.22	0.05	0.55	0.34	-0.29	-0.09	MSFT
UBER	0.58	0.7		-0.31	0.13	-0.44	0.41	0.5	-0.59	-0.23	UBER
F	-0.72	0.01	-0.31		-0.69	0.79	-0.01	0.17	0.61	0.65	F
T	0.62	-0.22	0.13	-0.69		-0.81	-0.07	-0.19	-0.57	-0.5	T
A	-0.73	0.05	-0.44	0.79	-0.81		-0.08	-0.02	0.71	0.43	A
CRM	0.37	0.55	0.41	-0.01	-0.07	-0.08		0.01	-0.41	-0.22	CRM
JPM	-0.06	0.34	0.5	0.17	-0.19	-0.02	0.01		-0.21	0.32	JPM
MRK	-0.7	-0.29	-0.59	0.61	-0.57	0.71	-0.41	-0.21		0.56	MRK
XOM	-0.58	-0.09	-0.23	0.65	-0.5	0.43	-0.22	0.32	0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

A	+ 0.79	F
MRK	+ 0.71	A
UBER	+ 0.7	MSFT
XOM	+ 0.65	F
T	+ 0.62	META
MRK	+ 0.61	F

High negative correlations

A	- 0.81	T
A	- 0.73	META
F	- 0.72	META
MRK	- 0.7	META
T	- 0.69	F
MRK	- 0.59	UBER

SPDR Bloomberg Competition Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Bloomberg ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze SPDR Bloomberg's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.28	(0.33)	0.00	(0.42)	0.00	0.00	1.87	(2.72)	13.52
MSFT	0.86	(0.10)	0.00	(0.12)	0.00	0.00	1.85	(2.19)	5.08
UBER	1.46	(0.23)	0.00	(0.21)	0.00	0.00	3.34	(3.30)	10.91
F	1.49	0.15	0.08	0.12	1.70	(1.72)	3.38	(2.35)	16.30
T	0.99	(0.17)	0.00	(0.42)	0.00	0.00	1.84	(2.32)	6.25
A	1.27	0.40	0.28	0.36	0.99	(1.44)	3.93	(2.15)	11.03
CRM	1.62	(0.12)	0.00	(0.09)	0.00	0.00	2.93	(3.61)	9.91
JPM	0.87	(0.01)	0.00	0.01	1.32	(0.80)	1.67	(1.91)	5.76
MRK	1.31	0.22	0.16	0.40	1.13	(1.71)	3.84	(2.36)	11.45
XOM	0.92	0.07	0.04	0.38	1.11	(0.87)	1.77	(1.93)	4.63

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